Volvo doubles 1H sales volume of Recharge models

Despite fewer new vehicle sales in the first half of 2020, Volvo Cars says total sales volume of its Recharge line-up of chargeable models more than doubled.

In the first half of 2020 Volvo cars sold 269,962 vehicles of which 37,775 were Recharge models, accounting for 14% of total sales volume.

In the first half of 2019 Volvo cars sold 340,826 vehicles of which 21,015 were Recharge models, accounting for 6.2% of total sales volume.

Recharge is the overarching brand name for all chargeable Volvo models with a fully electric or plug-in hybrid powertrain.

In the brands interim financial report for the first half of 2020, Volvo Cars chief executive officer Håkan Samuelsson says demand for the electrified Recharge models continues to grow strongly, reaching 17% of total global sales in June.

“We expect customers to want a sustainable economic recovery and we anticipate demand for electrified cars to accelerate, which means we are well positioned going into the second half of the year with our current product portfolio and the start of production of the fully electric XC40 P8 Recharge,” Samuelsson says.

“Market conditions made the first half of 2020 challenging but I am confident that we are well positioned for a strong market recovery in the second half of the year.

“If the market recovers as we expect, we anticipate sales volumes to return to the levels we saw in the second half of 2019 and it is also our ambition to return to similar profit levels and cash flow,” Samuelsson says.